Bitcoin

“I wrote a book that answers the question ‘What is Bitcoin?’ It’s 300 pages long, was obsolete the moment it was printed and has to be corrected and updated every three months just to keep up with changes.”

– Andreas Antonopoulos –

Originally published on DCEBrief, Mar 2017 Regulation is a touchy subject in the bitcoin industry. Many cryptocurrency idealists who truly believe they are invincible to government reach, also believe that the lack of bitcoin-specific regulation gives them a free...

Originally published on DCEBrief, Jan 2017 Large corporations, particularly multinationals, as well as some of the wealthiest members of society, often go to great lengths to get out of paying income tax. Their unlimited resources give them access to the best lawyers...

Originally published on DCEBrief, October 2016 In the United States alone, Baby Boomers (those born between 1946 and 1964) are on track to inherit around $12 trillion from their savings-conscious parents who were raised in the era of the Great Depression. Over the...

Part One

Understanding Bitcoin

Part Two

Part Three

A Brief History Of Bitcoin

Satoshi Nakamoto's First Post on Bitcointalk

Satoshi Nakamoto's Original Bitcoin Whitepaper

Abstract. A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they’ll generate the longest chain and outpace attackers. The network itself requires minimal structure. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone.